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How much debt would it take for you to kill yourself?
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2019-07-19 at 12:36 AM UTC
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2019-07-19 at 12:42 AM UTC
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2019-07-19 at 12:58 AM UTC
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2019-07-19 at 3:29 PM UTC
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2019-07-19 at 3:29 PM UTC
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2019-07-20 at 1:02 AM UTC
Originally posted by Star Trek VI: The Undiscovered Country I assume someone who has 50 million in debt is doing better at life than someone who has no debt. After all having that sort of debt implies connections, experience, and business acumen. Many successful entrepreneurs went broke at least once.
No, that sort of debt implies gross mishandling of capital and frivolous creditors. If that’s how you define success, then you are certain to fail. -
2019-07-20 at 1:05 AM UTCI have heard it said that you can get rich using OPM (other peoples money which means debt). It's true but if it doesn't work? Bankruptcy.
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2019-07-20 at 1:29 AM UTC
Originally posted by Erekshun I have heard it said that you can get rich using OPM (other peoples money which means debt). It's true but if it doesn't work? Bankruptcy.
It’s possible, but there is risk. Also, not all debt is bankruptable.
When people say they get behind on their bills, it’s usually that they get behind on servicing their debt. It’s easy to slowly build debt because you can “afford” it. It’s hard to get out of it. -
2019-07-20 at 1:31 AM UTC
Originally posted by Ajax It’s possible, but there is risk. Also, not all debt is bankruptable.
When people say they get behind on their bills, it’s usually that they get behind on servicing their debt. It’s easy to slowly build debt because you can “afford” it. It’s hard to get out of it.
I played the bankers game and they fucked me. I fucked back and filed bankruptcy. It worked in my favor. -
2019-07-20 at 8:41 PM UTC
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2019-07-20 at 8:41 PM UTC
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2019-07-20 at 8:46 PM UTC
Originally posted by WellHung plz specify
I had 5 houses and rented 4 out. The last one I bought was on a government backed loan that required the lender to verify the house was up to code, it wasn't, and was condemned by the county. I decided to file bankruptcy. It took them over a year to foreclose and in the meantime I still collected rent and didn't have to make payment. Cha-ching it was. -
2019-07-20 at 9:45 PM UTCCan't go to prison for debt, so why would you even want to kill yourself if you were in debt?